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Best Oil Stocks To Buy Right Now In 2017 For Big Gains

Best Oil Stocks To Buy In 2017

Although the oil sector has been chaotic and full of drama this year, the commodity itself has slowly started recovering, bringing oil stocks with it to higher grounds. Investing or trading oil stocks is by no means the easiest thing to do right now. But, I wanted to make a list of the best oil stocks right now. Here, you will find, a group of oil stocks that have stood the test of time and have outperformed many competitors during this harsh period for the industry. Specifically, these are stocks that have seen impressive returns even in this tumultuous time. However, I believe that there are still nice gains to be made from this list of the best oil stocks. First up, RICE.

Rice Energy (Stock Ticker: RICE)

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This stock has been very resilient, up trending when many other oil stocks were not. Recently, RICE has taken a hit but held its ground relatively well. This drop was due to an announcement that the company was going to acquire Vantage Energy. Needless to say, an oil company that is throwing around money, making acquisitions, during a hectic time for the industry, is not very concerned for itself. Moreover, the company has seen support from many noticeable institutional investors. This shows just how strong of a stock RICE is. As with many of these best oil stocks, timing is key. I believe this stock is, at this point, bound to return above $30. Hereby, providing a significant return from where it is now. Moving on…

Unit Corporation (Stock Ticker: UNT)

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To be honest, I don’t know much about the fundamentals or background of this one. I traded it based on technicals a while back. Nevertheless, this oil stock is similar to RICE. Showing extreme resilience, followed with a strong and lasting uptrend. I am expecting this stock to retest the $25 area. Hence, the uptrend should continue. Next, one of the most powerful oil stocks as of late.

Resolute Energy Corporation (REN)

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This stock has been infamous in the spotlight over the past couple months. After the stock rose over a 1000% and saw numerous short squeezes, this one seems to not be stopping. In fact, it seems like the stock won’t give up until it reaches the mid to high $30 range. I expect the stock to return to the long-standing base it created at around $35 a couple years back. This stock is pretty fast-paced, so, you might want to consider being careful. With this beeing said, the chart is reassuring, showing a clear and repetitive advantage for the longs. Moreover, it seems like the next big move is close by. REN recently dropped, quickly based then recovered. In short, it is hard to not be optimistic about the future of this oil stock.

Clayton Williams Energy (CWEI)

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This is truly one of the best oil stocks right now. It shares many similarities with REN. CWEI was surrounded with doubt but overcame everything and started its huge recovery. Surprisingly, this is a common pattern for this oil stock. In the past, CWEI has seen heavy drops followed by huge recoveries. This time around is no different. I think its uptrend will continue as well as the short squeezes, slowly but surely. If everything goes to plan, CWEI should retest its previous high at around $145. The best way to trade this stock is to buy and hold until that point, based on the history of the companies shares.

Chesapeake Energy Corporation (Stock Ticker: CHK)

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This stock has also been in the spotlight recently. The stock saw a choppy but significant (partial) recovery. CHK has been basing for a while. However, the stock has seen a strong resistance at $8. If CHK can break through that resistance, it should reach the mid $9 range quickly. During its lifetime, the stock has ranged from a bit less than a dollar but has also reached highs of $60. Obviously, wide fluctuations are not new for CHK. But, I think CHK will continue its lengthy recovery like it has done in the past. Investing in this stock till it reaches higher ranges would probably work best.

California Resources Corporation (CRC)

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Even though I have my doubts about this company, money can be made here. The stock has been range bound for a bit. Consequently, trading the range correctly could mean returns of %20 regularly. This is not easy to do as the stock is choppy and a bit sketchy, to be honest. Nonetheless, CRC has partially broke-out out of its range while recapturing the 200 DMA. This could mean that the stock is ready for a change of tides and a big recovery.